Why Antofagasta plc, Taylor Wimpey plc And Rightmove Plc Should Beat The FTSE 100 Today

The FTSE 100 (FTSEINDICES: ^FTSE) is picking up again today, gaining 37 points to 6,608 by late morning, after the market responded well to further upbeat earnings reports. The recent mini-rally in the mining sector is continuing, with all the top-flight diggers and delvers making further progress today, as confidence in China is starting to creep back.

So what is beating the FTSE today? Here are three shares from the various indices that are on the up:


A second-quarter production report gave Antofagasta (LSE: ANTO) a boost today, and its share price gained 18.5p (2.1%) to reach 894p as a result. During the quarter, copper production fell slightly from Q1, to 180,300 tonnes, but that was due to scheduled maintenance at the firm’s Esperanza plant. And over the half-year, copper output rose by 8.4% to 364,100 tonnes, mostly due to boosts at Esperanza.

In addition to its main production of copper, Antofagasta also unearths significant quantities of gold, and production of the shiny stuff during the half came in at 162,900 ounces, for a 19.7% rise over the same period a year ago.

Since the start of July, Antofagasta shares have recovered 12%, but the price is still around 18% down on the year.

Taylor Wimpey

Taylor Wimpey gained a modest 1.3p (1.2%) to 108p this morning, after the housebuilder announced an 80% rise in first-half adjusted earnings per share (EPS), to 2.7p. Revenue for the six months to 30 June rose 11% to £1.01bn, after the completion of 5,191 homes at an average selling price of £188,000. The firm also saw a 49% reduction in its net debt, to £68.4m, and has a record order book worth £1.3bn.

Chief executive Pete Redfern told us of “…more positive consumer sentiment, a more available and affordable mortgage market, and the presence of Government mortgage schemes, all adding to a favourable outlook“.

Over the past 12 months, Taylor Wimpey shares have gained 140%, making it one of the best performers in the sector.


A stronger housing market was also good news for Rightmove (LSE: RMV), whose share price bounded up 161p (7%) to 2,471p on the release of first-half figures. Revenue rose by 16% to £67.2m, with underlying EPS up 19% to 38.4p. The company lifted its interim dividend by 22% to 11p per share — a total of £37.4m has been returned to shareholders in dividends and share buybacks during the period.

In the words of chief executive Nick McKittrick, “Traffic to our website and mobile platforms is up over 20% on a year ago reflecting our ongoing investment in our brand and our technology coupled with an improving housing market”.

Rightmove shares are now up 60% over the past 12 months, though forecasts do put the shares on a relatively lofty P/E of around 30 — but that’s after five years of double-digit earnings growth, with two more predicted.

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> Alan does not own any shares mentioned in this article.